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A dossier has been released, which alleges that Labour is planning to spend around £4.27bn on green policies in the first year of the next parliament.

Specifically, the dossier alleges Labour is planning to increase spending by £3.7bn by allowing the Green Investment Bank to borrow from next year, and impose additional costs worth £87m through its proposed domestic energy efficiency strategy.

Labour also have plans for one million interest-free Green Deal loans, half a million home energy reports a year, and the launch of a new Energy Security Board.

The dossier predicts Labour's commitment to provide half a million homes with free energy reports would cost the Treasury £60m a year, claims providing one million interest-free loans would cost £27m, and says the setting up of an Energy Security Board would cost the same as the launch of the Office for Budget Responsibility (OBR) at £2m.

However, Labour sources insisted its plan to offer free energy reports would be entirely funded through the existing Energy Company Obligation (ECO) levy on energy bills. The Conservative dossier alleges the £940m raised through the ECO has already been assigned by the opposition to a new localised version of the ECO scheme, but opposition sources insisted this is not the case and up to £80m would be earmarked for funding energy reports for households.

Similarly, Labour has said its interest-free loans would be funded through the £300m George Osborne has already approved for domestic energy efficiency schemes during the first two years of the next parliament.

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